Food Prices To Skyrocket For Months

Falling oil prices have produced some
relief for cash-strapped consumers, but the same discounts won't
come to the supermarket—at least not for several more months. So
get used to paying more for that smaller box of cereal.

MSNBC: As
prices for crude oil and other commodities ease, Americans have
gotten a small dose of relief at the gas pump. But don't expect
less pain at the grocery counter.

Food inflation is to stay — and will probably get worse for some
things.

That's because retail prices for cereal, eggs, cheese and meat
generally lag by several months or longer world prices for wheat,
corn and soybeans — the raw ingredients of so much of our food.
Some food items may come down modestly as commodities prices cool
off; others might not budge a cent and some may actually
increase.